Brac Bank's profit rises 104pc

Brac Bank's profit after tax surged 104 percent year-on-year to Tk 126.7 crore in the January-March quarter this year.

The bank's consolidated earnings per share (EPS) hit Tk 1.62 in the first quarter, up from Tk 0.98 in the same period of 2016, according to a statement.

Selim RF Hussain, managing director and CEO of Brac Bank, and AK Joaddar, deputy managing director, presented the financial results at a programme at the bank's head office in Dhaka yesterday.

Local and foreign investment analysts and capital market experts participated in the programme.

Hussain said, “Brac Bank has kept pace of its outstanding financial performance beyond 2016 and delivered a strong financial performance in the first quarter of 2017.”

The bank is confident of continuing this business momentum over the next few years, he added.

The bank has 182 branches, 460 ATMs and 448 SME unit offices with its customer base now standing at 1.5 million.